Cable Update (GBPUSD)

i posted this sept 29th and the dollar stuck in a range for over a month afterward...so was everything else LOL


i love bein vindicated...heres an update with todays chart

if dollar closes below that black line its a continuation sell signal to 103.50 atleast so thats where GU will end up whereever it was last time dollar was 103

i got gbp targets up of 2700 plus a couple orphan ones as high as 3000 LOL

go on then one more SHORT for today @ 1.2444 no sl no tp ....and now we wait patiently...

1.2445 first short
target 1.23
second target 1.225

Took profit maybe a risky short now

Well done Leon you're the best ...

Thanks Rob. It takes a special breed to make it in this industry. I did try and make myself look handsome for you

Thought is something we should not do because it leads to expectations. And when you expect something meaning you thought you knos something. When you thought you know something, you tend to go bigger lot(because you want to boost the process of making money, trading without stop loss or holding onto bad trades or even worst add to losing trades)
The best way is to wait for the setup to appear, with a predefined risk and appropriate size, then enter once you get your confirmation.
Once you are in the trade, you next setup is trade management - your only goal now is to minimize risk to put your risk on that particularly trade to the lowest possible, b/e or better +ve, so even if the setup failed you already b/e.
You can do so by break your position into multiple lot size. Let say instead of entering 1 lot, you use 5 0.2lot.
Now, we all know that price move in waves and the top and bottoms of these waves are Support /resistance level which illustrates $$$ either got stuck (trapped) and want to get out with the lowest damage and/or using it as TP. These are intermediate S/R levels.

When price (the new swing) tops/bottom, the support/resistance level, is usually a key level, a level which is more important than the intermediate level. These levels usually initiate a new swing waves.
So make sure your bias(you are trading in favour of the swing waves, and tend not to get lost between the intermediate levels- which explains you dobt need to trade every move on the market, but only those in favour of the larger swing movement.

Putting all togther,
You enter position at key level - you need to search for it on 4hr tf and above. (using the breaker 5x lot size- i.e 0.2lots in this example) - you risk only 1% per trade ( i risk 0.5%)

Once price starts reacting and moving in your favour of your trade, you look for the intermediate levels to use as partial Take profit. - you sure that the intermediate level is atleast 1.5-2 x of your risk - you take 2x - 3x 0.2lot.
This reduce your intial exposure by 80-90% sometimes even put the exposure of your intial trade to +ve.

We also know that when every S/R level it is rested. - you re-enter what you just take out while. You can also add additional 0.5% fresh position, since your exposure on your initial trade falls to somewhere only 0.1% (or better b/e to +ve) of your capital while the 2nd entry - risk 0.5%.

Total possible exposure - will be varying from 0.6% to 0.4% but the effect if will be as if you risk 1%. Even though the RR will be smaller on the 2nd N3, but who cares, the success of trading is not getting 1 trade right, but a series of trades. - more precisely the % of capital is smaller when you lose than when you gain.

I have been doing this for almost 2 years, and i have come a long way and still have a long to go.

This one post is not enough to explain the whole possibility available, but i'm just trying to save you from a lot of blowing account due to reasons that can fully avoided if discipline in place
Hope it helps you when you start recovering.

Wishing you green pips and Stop loss once said "go ahead and take risk, i'm here to save you"

Apologise for any mistake as my inglis is bad. My native language is creole

This ain’t going down anytime soon. Hmm maybe tomorrow a slight correction before up to 125. Although there is data at 7am uk time which could determine the PA for the morning session

1.2630

Your 1.2465 appears to be 'in play'.

Caboom let's ride the pull back

The mf isn't stopping
More then 150 pips without any retracement
Let's hope mister daily R4 will stop it

Sold 1.2450... lost 70 pips earlier .. this week already done 265 pips range and on a Tuesday for that matter.... I will hold this short.

said this 18 hrs ago[

Shorts are riskier dxy has still room to go a bit more down today…..
i’ll try to buy scalp on pullback.

Not expecting a retracement anytime soon since tomorrow uk cpi i'm expecting it to be > 4.7%.
Daily BOS become high possibility on today's close.
Either 1.25465 > 4.7% or 1.2333 <4.7%.
Consolidation is more probable then 1 more push up

It is very obvious from todays results, the results are less important than what the trading algorithms want to do with price!

i put in sl to protect profits incase bears get a stick up their ass and try a futile attempt at a reversal


nfp shot out of a 5 week range oct 30th then an inside candle on weekly which was all it was and now another rocket launch this week....thats 2 important lower inflation figgers so why short GU excpt on 1 and 5 min. but those people are already underwater and trying to average up while protecting their margins so thats whats gona feed the short covering hier tomorrow and next day cause the dollar goin to 104 first target and then 103 which would put GU in the shaded area of the attached chart

1 and 5 min shorters become the chum that attracts sharks LOL



i have orphaned targets that werent retested before falling still close to 3000 but ill keep the reasons why from posting in here cause i dont want people to know my system

i used ICT's shaded rectangle zone cause i want to be like other prop traders ...thats the target gentlemen...thats the 103 dollar level

3rd set 2470 GJ 188.00 will hold all